2013: the right time to buy in Tuscany?

Tuesday, April 09, 2013

2013: the right time to buy in Tuscany?

Is 2013 THE time to grab that Italian bargain you've always dreamt about?

With property prices still sluggish - or falling - in parts of the eurozone in 2013, Italy is now more than ever an affordable investment option, according to different studies conducted by authoritative sources.

In line with the data collected by FIAIP (the Italian Federation of Professional Estate Agents) covering 16 Italian cities, sales volumes have decreased by over 17 per cent and prices have fallen an average of 11.98 per cent since 2012 with southern areas reporting higher contractions.

"This is exactly the right time to purchase an Italian place in the sun," says Gate-Away.com, a leading property portal for non-Italian buyers.

"Italy is not in the same boat as Spain or Greece, and having avoided a bank-crushing property bubble, property is still considered a good investment, especially now that homeowners might be ready to drop their property price up to 30 per cent discounts under the financial pressure.

"Non-Italian buyers, Brits above all, still dream about owning their own bit of la dolce vita. Prices will continue their decline in the next quarter of 2013 but we are cautiously optimistic for the next two years.

So what sort of deals can be had?

One good example from gate-away.com is a typical Tuscan country house superbly restored and with great character. Located in Fivizzano, a small hillside village in the Apuane Alps, it has three bedrooms, and a total of nine rooms. The price has been reduced from €250,000 to €170,000 in the last three years.

Alternatively, there is a three-bed home in Tresana, restored up to the highest standard maintaining many of its original features. It has a lovely 30m2 terrace with stunning views of rolling hills. The price has been reduced from €295,000 €235,000.

Or check out our guide to buying property in Tuscany >>


A Place In The Sun